The real-estate major DLF Universal has got approval from Haryana government to set up an integrated SEZ spread over around 20,000 acres in Gurgaon. Once completed this would be about Mukesh Ambani's special economic zone, which is spread over 25,000 acres in Gurgaon.
The project would be developed in four phases (5,000 acres per phase). Around 10,000 acres would be earmarked for residential zones, 5,000-6,000 acres for industrial zone (multi-storey factories) and 2,000 acres for commercial zone such as housing, shops, hotels, office complexes and banks.
An institutional zone with campus sites for world-class educational, healthcare and research institutes would come up in the remaining 2,000-3,000 acres. Land has been identified for the project, and the land acquired for public purpose by the state government will be kept out of SEZ.
The total investment would be Rs 1,24,000 crore in fixed assets of industrial, commercial and residential stock. DUL would fund through equity funding, internal accruals, borrowings or financial support from infrastructure funding institutions or international banks. DUL plans to complete the first phase by 2009 and the other three phases by 2012, 2015 and 2018 respectively.
The integrated SEZ will cater to export-oriented industries like automobiles and auto parts, metal processing, engineering industry, textiles, garments, pharmaceuticals, food processing, electronic goods, leather goods and bio-technology.